Please read about these 6 different laws, rules and regulations
, pick one,
and discuss with the class how your choice impacts the world of real estate finance.
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What is the role of the federal government in real estate finance? For instance, the federal government's policies have direct impacts of the real estate market, and how real estate is bought and sold and financed through the following laws, rules and regulations:
1. The Taxpayer Relief Act of 1997 (making many gains from sales of personal residences tax free);
2. The Mortgage Debt Relief Act of 2007 (providing tax relief to people how have lost residences to foreclosures);
3. The American Recovery and Reinvestment Act of 2009 (providing federal funds for at-risk homeowners);
4. The Truth-in-Lending Act (requiring lenders to reveal total loan costs to consumers taking out loans);
5. The Equal Credit Opportunity Act (preventing lenders from discriminating against loan applicants on the basis of race, color, religion, national origin, sex, marital status, age or dependency on public assistance); and
6. The Community Reinvestment Act (requiring lenders to meet the deposit and credit needs of their local communities).
This is just a sample of the different roles of the federal government from our readings in Chapters 1, 2, and 3.